Political effects of sub-regional fiscal policies in Russia

Spillovers of Regional Fiscal Policies in a Monetary Union∗

This paper studies the design of monetary policy in a fiscal federation, such as the European Union. The focus of the analysis is the interaction between the fiscal policy of member countries (regions) and the monetary authority. Each of the countries structures its fiscal policy (spending and taxes) with the interests of its citizens in mind. Thus each country perceives a gain to shifting its ...

political economy of china in central asia

this research is about the political economy of china in central asia. in this research the political & economic interactions affected on chinas political economy in central asia are examined. chinas goal of presence in central asia including political-security, economic and energy goals is described in one part. in another part, the trade relations between china and central asian countries ar...

A Perspective on Fiscal Federalism in Russia

The effects of foreign exchange and monetary policies in Russia

This paper examines the effects of Russian foreign exchange and monetary policies under conditions of abundant natural resources during the period 1999–2011 using structural VAR models. The results suggest that monetary policy shocks, which are identified as money supply disturbances, have a persistent effect on real output, and more than half of the volatility in real output can be explained b...

Fiscal Federalism in Russia: a Canadian Perspective

This paper considers the key instrumental components of intergovernmental fiscal relations in the Russian Federation – expenditures, revenues, transfers, borrowing, and institutional arrangements – in comparison both to Canada’s lengthy experience with federalism and to a framework developed on the basis of previous work on fiscal federalism in a variety of transitional and developing countries. .